Economic Offences Wing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ECONOMIC OFFENCES WING

JUDGEMENTS & CONVICTION

JUDGEMENT:-

·         The constitutional validity of TNPID Act  was upheld by the Hon’ble Justice Tr. Sathsasivam of Madras High Court in the year 1999. It was again challenged in view of the Order passed by the Hon’ble full bench of Bombay High court declaring the “Maharastra protection of Interests of Depositors [ in financial Establishments] Act 1999 [ known as MPID (FE) act]” as ultra virus.   The full bench of Madras High court again upheld the constitutional validity of the TNPID Act on 02.03.2007.

 

·         In the light of the conflicting contentions of both the sides the full bench analyzed the following two issues.

1.   Whether the Tami Nadu Act stands the test of reasonableness and does not violates articles    14,19(1) (g) and 21 of the constitution of India and the principles of natural justice

2.   Whether the Tamil Nadu Government has legislative competence to enact the Tamil Nadu Act.

 

·         The Hon’ble full bench has elaborately discussed the various provisions of Tamil Nadu  Act and citations and held that

1.     Cardinal principles of natural justice are not violated.

2.   There is no arbitrations or un-reasonableness in the procedure prescribed under section 3,5 and 8 of the Act, nor there is unguided power conferred on the Competent Authority or the Special Court in this regard.

 3. There is no violation of Articles 14,19(i),(g) and 21 of the Constitution of India as the punishment prescribed in the Act is not excessive and harsh and sections 3, 5 and 8are intended to assure a checkmate on the abuse of the tactics adopted by the financial establishments and they do it see any arbitrariness or un-reasonableness or violation of Articles 14,19 (1) (g) and 21 of the constitution of India.

 

·         Thus the Full Bench has held that

1.    The field of legislation, viz, Tamil Nadu Act is traceable to entries 1 and 32 of list –I, besides falling under entries 1, 7 and 8 in the concurrent list.

2.   The impugned Tamil Nadu Act does not fall within the legislative field of the Union list [List –I ] and

3.   Though there is trenching, the same is only incidental, which is permissible in Law.

 

·        Thus the Hon’ble Full Bench of Madras High Court held that the Tamil Nadu Protection of Interest of Depositors {in financial establishments} Act 1997 does not suffer any  legislative competency ;  nor its provisions are arbitrary and unreasonable, violative of principles of natural justice; nor offends Articles 14, 19 (1) (g) and  21 of  the  Constitution of India.

 

5 YEARS REMARKABLE CONVICTIONS

·           In the year 2021

·           In the year 2020

·           In the year 2019

·           In the year 2018

·           In the year 2017